Equities in Canada’s largest centre opened lower on Monday, pulled down by technology shares, while investors maintained caution ahead of a key inflation report in the United States due later in the week.
The TSX Composite decreased 58.67 points Monday to begin the week at 21,678.86.
The Canadian dollar slid 0.06 cents at 74.09 cents U.S.
In corporate news, the Romanian government said on Friday it won an arbitrage trial filed by Gabriel Resources which wanted compensation after its plan to build Europe’s largest open-cast gold mine in western Romania had failed. Gabriel shares had yet to move off its 87-cent perch early Monday from which it had closed on Friday.
ON BAYSTREET
The TSX Venture Exchange dipped 3.7 points to 575.74.
All but three of the 12 subgroups were in the red in the first hour, with energy subsiding 1%, information technology down 0.7%, and real-estate off 0.5%.
The three gainers proved to be gold, up 0.9%, consumer staples, ahead 0.3%, and materials, better by 0.2%.
ON WALLSTREET
U.S. stocks fell Monday, extending last week’s losses as investors geared up for fresh inflation data.
The Dow Jones Industrials faltered 148.44 points to open Monday and the week at 38,574.25.
The S&P 500 settled 27.27 points to 5,096.42.
The NASDAQ slumped 80.68 points to 16,001.99.
Nvidia pulled back around 2%, taking another leg down after Friday marked its worst daily move since late May. Super Micro Computer, which is also an AI-focused stock, dropped more than 9.5%.
Meta also struggled, with the Facebook parent tumbling more than 4%.
Traders are preparing for February’s consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.
Prices for the 10-year Treasury stayed where they were Monday, keeping yields to Friday’s 4.08%.
Oil prices skidded 84 cents to $77.17 U.S. a barrel.
Gold prices surged $2.80 to $2,188.30.
